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Effective Risks Management as a Challenge for Managers in the Nigerian Business Environment: A Case Study of Port Harcourt, Rivers State

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Author(s): Okoh, Lucky | Onoriode, Humphrey

Journal: International Journal of Economic Development Research and Investment
ISSN 2141-6729

Volume: 2;
Issue: 2;
Start page: 60;
Date: 2011;
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Keywords: Risks Management | Business Environment | bankers | entrepreneurs

ABSTRACT
Risk is at the centre of life itself and as a result many people from different walks of life are concerned about it. Engineers, accountants, lawyers, doctors, teachers, bankers, entrepreneurs and many others have interest in the concept of risk. Effective management of risk is necessary for business success. The study examined effective management of risk in the Nigerian business environment as a challenge faced by managers. 80 respondents which includeD risk managers and staff of the risk management department of selected organizations in Port Harcourt were chosen for this study. The major research instruments were questionnaire and personal interview; while the data collected were analyzed using frequency distribution tables and simple percentage. The results indicated among others that there is significant relationship between effective management of risks and the investments. To this end, the study recommends identification, risk evaluation, measurement and control as a necessary step for effective risks management.
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